Research on the Market Value Management of SANY Heavy Industry
|School||Central South University|
|Keywords||SANY Heavy Industry market value management valueevaluation model|
As the "full circulation" era comes after the equity division reform, the market value management, which is the enterprise development goal, has constantly become research topic by listed company in recent years.This paper based on the actual situation of SANY Heavy Industry Co., Ltd. Firstly, the paper make a conclusion for the existing domestic and overseas’literature about market value management, which is in order to understand the content of market value management. Then, the basic theory of market value management and the value evaluation model used in this paper are illustrated. Both of them are used to design the value evaluation model for SANY Heavy Industry Co., Ltd. according to the existing theory. After that usage of the value creation and value realization mentioned in the model affecting the market value, the current situation and problems which influence SANY’s market value can be analyzed. By using SANY’s historical data to run the value evaluation model, the company’s present market value management can be evaluated. At last, this paper will give farther suggestions for the promoting the market value.In general, the market value management of SANY is quite good. SANY Heavy Industry Co., Ltd. was listed in2003in Shanghai stock exchange. By raising funds from the capital markets, the company improves its profit step by step. The sales and profits figures rapidly grew more than50%in the past years. The company helps their investors truly share the profits through the way of giving share dividends and bonus. It is useful for the listed company to achieve its development and capital market profits, which can be call a "win-win" relationship for each other. Aimed at the management condition and capital market environment in SANY at present, company should upgrade the market management level roundly in such aspects as payoff ability, capital running, investor relations and corporation management etc.